Rhumbline Advisers reduced its stake in shares of Polaris Inc. (NYSE:PII – Free Report) by 2.5% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 139,995 shares of the company’s stock after selling 3,545 shares during the quarter. Rhumbline Advisers’ holdings in Polaris were worth $5,731,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of PII. RWWM Inc. grew its position in shares of Polaris by 377.4% in the fourth quarter. RWWM Inc. now owns 889,698 shares of the company’s stock valued at $51,264,000 after purchasing an additional 703,322 shares during the last quarter. Artisan Partners Limited Partnership lifted its stake in shares of Polaris by 132.6% during the fourth quarter. Artisan Partners Limited Partnership now owns 900,891 shares of the company’s stock valued at $51,909,000 after buying an additional 513,542 shares during the period. Norges Bank purchased a new position in shares of Polaris during the fourth quarter valued at approximately $24,659,000. Capital World Investors lifted its stake in shares of Polaris by 6.7% during the fourth quarter. Capital World Investors now owns 6,156,285 shares of the company’s stock valued at $354,725,000 after buying an additional 388,050 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of Polaris during the fourth quarter valued at approximately $21,776,000. 88.06% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities analysts recently issued reports on the stock. Bank of America reduced their price objective on shares of Polaris from $55.00 to $45.00 and set a “neutral” rating on the stock in a research note on Monday, March 17th. Royal Bank of Canada reduced their price objective on shares of Polaris from $54.00 to $34.00 and set a “sector perform” rating on the stock in a research note on Wednesday, April 30th. Truist Financial reduced their price objective on shares of Polaris from $55.00 to $30.00 and set a “hold” rating on the stock in a research note on Monday, April 14th. Wall Street Zen downgraded shares of Polaris from a “hold” rating to a “sell” rating in a research note on Thursday, May 8th. Finally, Roth Capital reissued a “neutral” rating on shares of Polaris in a research note on Tuesday, April 22nd. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $45.82.
Polaris Price Performance
Polaris stock opened at $41.67 on Friday. Polaris Inc. has a 52-week low of $30.92 and a 52-week high of $88.00. The firm has a fifty day moving average of $36.81 and a 200-day moving average of $46.37. The firm has a market capitalization of $2.34 billion, a P/E ratio of 21.26, a PEG ratio of 13.95 and a beta of 1.04. The company has a quick ratio of 0.39, a current ratio of 1.15 and a debt-to-equity ratio of 1.27.
Polaris (NYSE:PII – Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported ($0.90) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.91) by $0.01. Polaris had a net margin of 1.54% and a return on equity of 13.78%. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the prior year, the business earned $0.23 earnings per share. The business’s quarterly revenue was down 11.6% compared to the same quarter last year. As a group, analysts predict that Polaris Inc. will post 1.11 EPS for the current year.
Polaris Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 6.43%. The ex-dividend date is Monday, June 2nd. Polaris’s payout ratio is 372.22%.
About Polaris
Polaris Inc designs, engineers, manufactures, and markets powersports vehicles in the United States, Canada, and internationally. It operates through three segments: Off-Road, On-Road, and Marine. The company offers off-road vehicles (ORVs), including all-terrain vehicles and side-by-side vehicles; military and commercial ORVs; snowmobiles; motorcycles; and moto-roadsters, quadricycles, and boats.
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